MIRA
INFORM REPORT
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Report Date : |
14.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
HYTECH INDUSTRIES |
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Registered Office : |
No. 548, 4th Phase, Peenya Industrial Area, Bangalore
560058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Gears, Gear Units and Machined Components |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. The concern is doing well. Its trade
relations are fair. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. Nothing adverse reported. |
LOCATIONS
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Registered Office/Factory : |
No. 548, 4th Phase, Peenya Industrial Area, Bangalore
560058, Karnataka, India |
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Tel. No.: |
91-80-28361688 /41272572 / 41272472 |
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Fax No.: |
91-80-28360186 / 25541597 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Atul Kumar Goswami |
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Designation : |
Proprietor |
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Qualification : |
B.E. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Gears, Gear Units and Machined Components |
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Products : |
Ø Straight and
Helical Bevel Gears Ø Shaved Gears Ø Spur Ø Helical Ø Rack Ø Sprockets Ø Splint Worm
Wheels Ø Screw Jacks Ø Bevel Drivers
and Reduction Gear Boxes |
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Exports : |
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Countries : |
Ø Canada Ø Malaysia |
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Imports : |
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Products : |
Machinery |
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Countries : |
Ø Singapore Ø Taiwan Ø Switzerland Ø Germany |
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Terms : |
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Selling : |
[30 to 50 days] |
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Purchasing : |
L/C [30 to 60 days] |
GENERAL
INFORMATION
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Suppliers : |
Ø Fricon,
Bangalore Ø Mitsubishi Heavy
Industries, Chennai |
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Customers : |
Ø Ashok Leyland
Limited, Hosur Ø Bharat Earth
Movers Limited, Bangalore Ø H.M.T. Limited,
Bangalore Ø Hindustan Motors
Limited, Hosur Ø L and T Komatsu
Limited, Bangalore Ø National
Aeronautical Laboratory, Bangalore Ø Same Deutz Fahr
India Limited, Panipat |
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No. of Employees : |
42 |
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Bankers : |
Ø State Bank of
India Peenya Industrial Estate, Bangalore 560058, Karnataka, India |
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Facilities : |
Rs. 2.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dagalya and Company Chartered Accountants |
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Address : |
Bangalore |
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Memberships : |
Ø Peenya
Industries Association |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 25.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 25.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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42.000 |
28.000 |
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Profit/Loss for the year |
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8% to 10% |
8% to 10% |
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Export Value |
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10.000 |
8.000 |
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Import Value |
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2.000 |
NA |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
DETAILS
PROFILE:
Subject is one of the specialists in manufacturing Gears and
Gear Boxes. They make Straight & Helical Bevel Gears, Shaved Gears, Spur,
Helical, Rack, Sprockets, Spline Shafts, Worm & Worm Wheels, Screw Jacks,
Bevel Drivers and Reduction Gear Boxes as per customers specification. Their
unit is situated at Peenya Industrial Estate, Bangalore.
They have a fully equipped design team to bring out products
of high standard in quality & reliability. The design of Tools and Product
are developed on CAD. They have developed the expertise to understand the
critical requirement of components and implement this through well defined
systems to increase the productivity of the system.
Subject enjoys a reputation for excellence in Gear
Engineering and latest technological know how. Their unique strength is derived
from decades of experience in gear technology for various end applications.
Their product range covers precision machined components and gears covering
wide ranges of mechanical power transmission applications.
CUSTOMERS:
1.
Ashok Leyland Limited , Hosur
2.
Auma India Limited , Bangalore
3.
Bharat Earth Movers Limited, Bangalore
4.
Cyclo Transmission Limited , Satara
5.
Deccan Farm Equipment Private Limited , Kolhapur
6.
Dynamatic Technologies Limited , Bangalore
7.
Electrex (India Limited ), Bangalore
8.
Hindustan Machine Tools, Bangalore
9.
Hindustan Motors Limited, Hosur
10.
JNP Agro Systems Private Limited , Bangalore
11.
L&T Komatsu Limited, Bangalore
12.
Luk India Private Limited , Hosur
13.
National Aeronatics Laboratory, Bangalore
14.
Pragati Autonation Private Limited , Bangalore
15.
Premier Instruments & Controls Limited, Coimbatore
16.
Same Deutz Fahr India Limited , Ranipet
17.
Same Engines Private Limited ,
18.
V.S.T.Tillers & Tractors Limited , Bangalore
19.
Vibromech Engineers & Services Limited , Bangalore
PRODUCTS:
BEVEL WHEEL
& BEVEL PINION
Ratio: 1:1 / 2:1 /
3:1 / 4:1 / 5:1 / 6:1
Pitches: D.P. & Module (Metric)
APPLICATION
- To
Transfer power at any required angle.
- Machine
Tools Differential gear units, P.T.O. Drivers.
- Bevel
Gear Boxes, Actuators, Valve opening System.
WORM & WORM SHAFT
APPLICATION
- Screw Jacks,
Different types of Reduction Gear Boxes, Lifts.
Worm Shaft: Generated profile Worm Shafts from
single start to multi start with high helix angle and Speedometer Worms.
INTERNAL GEAR &
PINION
Internal Gear: 400
dia 5 module 110 mm face width
APPLICATION
- Final Drive
(Tractors)
- Sun &
Planetary Drives, Machine Tools etc.
HELICAL GEAR &
PINION
Helical Gear: 1000 Dia, 10 Module
Helical Shaved: 220 Dia, 6 Module
APPLICATION
- Used in
Engines
- Machinery
- Reduction
Gear Box
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.29 |
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UK Pound |
1 |
Rs. 77.02 |
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Euro |
1 |
Rs. 58.16 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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